Emerson Electric PT Lowered to $68.00 (EMR)
Equities researchers at Morgan Stanley lowered their target price on shares of Emerson Electric (NYSE:EMR) from $69.00 to $68.00 in a research report issued on Wednesday. Morgan Stanley’s target price suggests a potential upside of 9.94% from the company’s current price.
Shares of Emerson Electric (NYSE:EMR) traded down 1.58% during mid-day trading on Wednesday, hitting $61.85. The stock had a trading volume of 5,195,181 shares. Emerson Electric has a 1-year low of $60.14 and a 1-year high of $70.66. The stock’s 50-day moving average is $66.76 and its 200-day moving average is $66.32. The company has a market cap of $43.403 billion and a P/E ratio of 22.53. Emerson Electric also saw some unusual options trading on Wednesday. Traders purchased 5,296 put options on the stock. This represents an increase of approximately 289% compared to the typical daily volume of 1,362 put options.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.03 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.06 by $0.03. The company had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.45 billion. During the same quarter last year, the company posted $1.04 earnings per share. Emerson Electric’s revenue was down .5% compared to the same quarter last year. On average, analysts predict that Emerson Electric will post $3.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, August 13th.
EMR has been the subject of a number of other recent research reports. Analysts at Oppenheimer cut their price target on shares of Emerson Electric from $77.00 to $70.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Emerson Electric in a research note on Friday, July 18th. They now have a $71.00 price target on the stock. Finally, analysts at Argus upgraded shares of Emerson Electric from a “hold” rating to a “buy” rating in a research note on Friday, July 11th. They now have a $75.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $70.54.
Emerson Electric Co (NYSE:EMR) is a diversified global technology company.
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